Military Saves Week approaching; three-point savings plan

  • Published
  • By the MacDill Airman and Family Readiness Center
  • 6th Force Supp0rt Squadron
MACDILL AIR FORCE BASE, Fla. --  The theme for the 2013 Military Saves Week (Feb. 25 to March 2) is more than just a theme; it's a set of instructions to help save money.

Set a goal, make a plan and save automatically. Knowing what you want to save for, how to achieve it and then making the savings process automatic, will allow you to reach your savings goal.

Set a goal. You can save more by having a goal in mind. Visualizing what you want to save for gives your savings a purpose. You may be tempted to withdraw from your savings if it has no purpose. But once you have a goal in place, you know that taking money out of your savings is taking away from that ultimate goal.

So what are you saving for - an emergency fund, a home, retirement or a car? Encourage people to go viral with their savings goal. Take a picture and post it on Facebook and tag at MilitarySaves.

Make a plan. Once you have your goal in place, make a plan for how you are going to save. To start, cut down on your spending and reduce high-cost debt. Next, keep track of what you spend and make a budget. Once you know where your money is going each month, you can cut down on unneeded spending and save the difference.

Don't forget to keep your savings safe, secure and growing. Banks, credit unions and even the government offer a variety of financial products that can help you save.

Save automatically. It can be hard to put aside money for savings. But there is an easy way to save money without ever missing it. Once you know how much you can save, make saving automatic. Automatically transfer a portion of your paycheck into a savings account.

For a list of activities during Military Saves Week visit www.macdillfrc.com. For more information, contact the MacDill Airman and Family Readiness Center at 828-0145. Also, you can take the Military Saves Pledge at www.militarysaves.org.